MFG Wealth Management Inc. increased its stake in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 49.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,202 shares of the company's stock after acquiring an additional 42,657 shares during the quarter. MFG Wealth Management Inc.'s holdings in Rocket Companies were worth $1,559,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. AXQ Capital LP boosted its holdings in shares of Rocket Companies by 125.7% in the fourth quarter. AXQ Capital LP now owns 146,691 shares of the company's stock valued at $1,652,000 after acquiring an additional 81,695 shares during the period. GAMMA Investing LLC raised its position in Rocket Companies by 2,101.4% in the 1st quarter. GAMMA Investing LLC now owns 47,133 shares of the company's stock valued at $569,000 after purchasing an additional 44,992 shares during the last quarter. Hsbc Holdings PLC raised its position in Rocket Companies by 875.5% in the 4th quarter. Hsbc Holdings PLC now owns 145,485 shares of the company's stock valued at $1,634,000 after purchasing an additional 130,571 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Rocket Companies during the 1st quarter worth $583,000. Finally, Aquatic Capital Management LLC grew its position in Rocket Companies by 54.5% during the 4th quarter. Aquatic Capital Management LLC now owns 173,754 shares of the company's stock worth $1,956,000 after purchasing an additional 61,265 shares during the last quarter. 4.59% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $18.00 target price on shares of Rocket Companies in a report on Tuesday, April 1st. Keefe, Bruyette & Woods dropped their price target on Rocket Companies from $15.00 to $13.00 and set a "market perform" rating on the stock in a research report on Monday, May 12th. Wedbush reaffirmed a "neutral" rating and set a $12.00 price objective (down from $13.00) on shares of Rocket Companies in a research note on Friday, May 9th. UBS Group increased their price objective on Rocket Companies from $13.00 to $14.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. Finally, Deutsche Bank Aktiengesellschaft upgraded Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 target price on the stock in a research note on Wednesday, April 2nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $14.21.
Check Out Our Latest Analysis on RKT
Rocket Companies Price Performance
Shares of RKT traded up $0.15 during trading hours on Thursday, reaching $14.48. The company had a trading volume of 16,685,880 shares, compared to its average volume of 6,439,858. The company has a current ratio of 12.62, a quick ratio of 12.62 and a debt-to-equity ratio of 1.37. Rocket Companies, Inc. has a 12-month low of $10.06 and a 12-month high of $21.38. The firm has a 50 day simple moving average of $12.85 and a 200-day simple moving average of $12.74. The company has a market capitalization of $28.95 billion, a price-to-earnings ratio of -482.50, a PEG ratio of 0.96 and a beta of 2.28.
Rocket Companies (NYSE:RKT - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Rocket Companies had a net margin of 0.06% and a return on equity of 3.61%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the business posted $0.04 earnings per share. The firm's revenue for the quarter was down 10.8% compared to the same quarter last year. Research analysts expect that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.
About Rocket Companies
(
Free Report)
Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company's solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; and Rocket Loans, an online-based personal loans business.
Recommended Stories
Before you consider Rocket Companies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rocket Companies wasn't on the list.
While Rocket Companies currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
